Nibras Stiebar-Bang believes blockchain might assist the European Union’s digital identification initiatives.
The European Union’s move in the direction of a unified digital identification system goals to boost regional comfort and safety. Nonetheless, Concordium CTO and CPO Nibras Stiebar-Bang cautions that such efforts should stability improved entry with stringent privateness safeguards.
In an interview with crypto.information, Stiebar-Bang acknowledged the intent behind standardized digital IDs to ease id verification for residents accessing companies throughout EU member states.
“It will bring added convenience to both citizens and institutions requiring ID verification,” he mentioned.
Nonetheless, the blockchain professional warned that such comfort can’t undermine private knowledge safety. “Privacy and data protection” should stay priorities, Stiebar-Bang emphasised, noting apprehensions round elevated “digital surveillance” and centralized knowledge storage that might show alluring hacking targets.
Mitigating privateness pitfalls
In accordance with Stiebar-Bang, the success of digital ID programs relies upon closely on particular person nation implementations and the blockchain options they select to underpin id administration.
He highlighted the significance of decentralized platforms with strong id layers incorporating zero-knowledge proof expertise. Such cryptography allows id verification with out exposing private particulars, granting customers management over what data they share.
EU policymakers should additionally drive understanding of those privacy-preserving capacities by public outreach, Stiebar-Bang suggested. Citing residents’ prevailing surveillance considerations, he mentioned conveying how zk-proofs and decentralized programs perform can be very important for public belief.
The necessity for collaboration
Whereas the EU intends blockchain to bolster the safety and privateness of digital IDs, Stiebar-Bang cautioned that efficiently delivering on this promise requires shut business collaboration.
“Leaders in the blockchain industry must be involved in these conversations and pilot initiatives,” he mentioned. Past consulting implementations, he suggested fostering analysis partnerships with universities to include various experience.
Tapping steerage from established gamers just like the EU can overcome pitfalls to appreciate digital IDs’ societal promise. However an inclusive, clear strategy stays important.
“If implemented properly,” Stiebar-Bang added, self-sovereign digital id can grant residents unprecedented management over their private data – a “significant milestone” in itself.
The publish Concordium CTO foresees promise and peril in EU digital IDs first appeared on Investorempires.com.
